E256: What Fintech Will Look Like in 5 Years - Steve McLaughlin (FT Partners)

What does it take to build the most dominant FinTech investment bank in the world—starting from a $99 incorporation and a used laptop? In this episode, I speak with Steve McLaughlin, Founder, CEO, and Managing Partner of FT Partners, widely regarded as the leading investment bank in FinTech. Steve has personally closed hundreds of the biggest M&A, capital raise, and IPO advisory transactions in the industry—while pioneering a completely different approach to value creation in investment banking. We cover everything from the humble beginnings of FT Partners, to Steve’s philosophy of “never die,” to his groundbreaking thesis on AI, tokenization, defensibility in FinTech, and why he believes we’re entering a new era of trillion-dollar global financial technology companies. We also dive into the incentives model Steve built that has generated some of the largest fees in the history of investment banking—and why clients keep coming back. Highlights: How Steve left Goldman to launch FT Partners during the dot-com crash—with no brand, employees, or clients. The “never die” mindset and why consistency compounds in markets. FT Partners’ deep-work model: 500-page decks, long-term models, and internal data science. How the firm differentiates from Goldman/Morgan Stanley and attracts elite talent. The incentives behind nine-figure fees—and why Steve thinks bankers should be paid like PE/VC when they create real value. Inside FT Partners’ $25M investment in Model ML and how AI will reshape investment banking. Tokenization, stablecoins, and where the next trillion-dollar FinTech giants will emerge. Why the strongest FinTech companies embed AI across every function. How AI will change deal sourcing, buyer mapping, and global transaction execution. The future of FinTech over the next decade—post-AI and fully digital. Steve’s views on money, charity, family, and why he still personally handles major client calls. Guest Bio: Steve McLaughlin is the Founder, CEO, and Managing Partner of Financial Technology Partners (FT Partners), the leading investment bank focused exclusively on FinTech. Since launching in 2001, Steve has built FT Partners into a globally recognized advisory powerhouse, completing hundreds of the most important transactions across payments, digital banking, crypto, wealth & capital markets tech, InsurTech, healthcare payments, and more. He has been ranked #1 on Institutional Investor’s “Most Influential Dealmakers in FinTech,” named Investment Banker of the Year, and recognized as the #1 FinTech banker in Silicon Valley by The Information. FT Partners has also won Investment Banking Firm of the Year four times since 2004. Before founding FT Partners, Steve led the Global Financial Technology Group at Goldman Sachs. He earned his BSBA from Villanova University and his MBA from Wharton. Our Podcast now receives more than 300,000 downloads a month. Are you interested in sponsoring an episode? Please email David Weisburd at david@weisburdcapital.com . #venturecapital #vc #startups #openlp #assetmanagement Stay Connected with David Weisburd: X/Twitter: @dweisburd LinkedIn: https://www.linkedin.com/in/dweisburd/ Weisburd Capital: https://www.weisburdcapital.com/ Stay Connected with Steve McLaughlin: LinkedIn: https://www.linkedin.com/in/stevemclaughlinftpartners/ FT Partners: https://www.ftpartners.com Disclaimer: This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are solely their own and do not represent the views of Weisburd Capital or its affiliates. Participants may hold positions or have other financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are based solely on the opinions of the speaker and are subject to risks and uncertainties. Information discussed in this episode may include third-party data or opinions; while believed to be reliable, such information has not been independently verified. Listeners should conduct their own research and consult their own professional advisors before making any investment decisions. Questions or topics you want us to discuss on How I Invest? Email us at david@weisburdcapital.com . (0:00) Introductions (0:04) FD Partners origin story, early challenges, and current scale (1:49) Lessons from market downturns and economic cycles on fintech (3:48) Long-term strategy, resilience, and talent strategy (6:34) Innovations in AI and fintech (7:58) Teamwork and the F1 racing analogy (9:47) Traditional banks vs. fintech and value-added roles (15:15) Private markets and client engagement strategies (19:28) Being labeled the world's richest banker and fintech trends (24:58) The future of fintech and AI's impact (29:06) AI's defensibility and pricing in the fintech market (32:07) Competitive differentiation with AI in fintech (33:24) Closing remarks